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Phoenix Investment Partners, Ltd. is the asset management subsidiary of The Phoenix Companies, Inc., a 155-year-old insurance and investment company (NYSE: PNX).

Phoenix Investment Partners, Ltd. is the asset management subsidiary of The Phoenix Companies, Inc., a 155-year-old insurance and investment company (NYSE: PNX).
Serving individuals and institutions, Phoenix Investment Partners provides disciplined money management through our own subsidiaries as well as through carefully selected outside managers with which we have subadvisory arrangements.

Phoenix Investment Partners also provides institutional money management to corporate, public and Taft-Hartley pension funds, endowments, foundations, insurance companies and subadvisory accounts. In all, as stated in the 2nd quarter earnings report, Phoenix Investment Partners managed $42.3 billion in third-party assets for individuals and institutions as of June 30, 2005.

Other Phoenix Companies products include life insurance and annuities specifically designed for high-net-worth and affluent individuals, families, business owners and corporate executives.

Mutual Funds
Phoenix offers a broad selection of professionally managed mutual funds that span all asset classes and investment styles to help you build well diversified portfolios.

Managed Accounts
A managed account is a separate portfolio of investments owned directly by an investor and managed by a professional money manager for a fee.

Closed-End Funds
A closed-end fund is a regulated investment company that offers a fixed number of shares that are traded on a stock exchange, just like stocks. Phoenix offers closed-end funds from Zweig and Duff & Phelps.

Institutional Investors
PXP Institutional Markets Group, Ltd. provides a centralized and coordinated approach to institutional distribution for its partners and clients. Each partner focuses exclusively on managing money and client relationships.

Prices And Returns
Prices and returns quoted represent past results and are no guarantee of future results. Current performance may be higher or lower than the performance shown. Investment return and principal value will fluctuate, so your shares.

D&P Utility And Corporate Bond
Duff & Phelps Utility and Corporate Bond Trust Inc. (the

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